If your bank delays the availability of customer deposits, it needs to ensure that its Funds Availability Disclosures include the types of holds you may place and that the holds conform to the limits imposed by Regulation CC.
One of the most severe penalties from a pattern of MLA violations was having a CRA rating downgraded and it just recently happened. The Military Lending Act and especially the Servicemembers Civil Relief Act are still hot issues.
Mistakes are good when you learn from them. Mistakes are great when you learn from someone else’s. Join me as we look at what examiners are finding wrong in banks so they do not find it wrong in yours.
Have you taken care of all the Operations changes on your list from 2020? Is there something you missed when you were fighting any of the inevitable compliance “fires” that popped up?